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or partially includable for federal income tax purposes in the gross income of the holders of the Project Bonds (other than because a holder is a"substantial user" of the Project or a"related person" thereof, as those terms are used in Section 103(b)(10) of the Internal Revenue Code of 1954). or in the event and after receipt of written notice by the Company of a written determination by Independent Counsel or by any court of competent jurisdiction, that the Letters of Credit are in- applicable to the payments which they purport to secure or are, under any circumstances, unenforceable in the full amount purported to be secured thereby. As used herein, a"final determination" shall be deemed to have occurred upon the receipt by the Trustee of a ruling or technical advice by the Iat.ernal Revenue Service in which the Company has participated or a written opinion of bond counsel selected by the Trustee. Following a final determination, or the written notice of the written determination as to inapplicability of the Letters of Credit, the Project Bonds shall be redeemed by the Issuer from the proceeds of the Company paying Loan Payments pursuant to Sections 4.2 and 6.4 of the Agreement utilizing only Pledged Receipts at a redemption price of 112% of the outstanding principal amount thereof in the event of a final determination, or at the lesser of 103% of the outstanding principal amount thereof or, if applicable, the redemption price hereinafter set forth for optional redemption of the Project Bonds in the event of a written determination, plus accrued interest to the redemption date, at the earliest practicable date selected by the Trustee, after consulta- tion with the Company, but in any event not later than 180 days following the Trustee's notification of such final determination or written deter- mination. All of the Project Bonds outstanding on the redemption date selected shall be redeemed by the Issuer on such date, except that Project Bonds maturing on or prior to such redemption date, but after the aforesaid selection of a redemption date, shall be retired on their maturity date at the same redemption price as if they had been called for redemption on such redemption date, and Project Bonds for the pay- ment or redemption of which sufficient monevs or investments are held by the Trustee as provided in Section 8.02 of the Indenture shall be re- deemed on the redemption date, or paid at earlier maturity, in accord- ance with this paragraph and not otherwise. The Project Bonds also are subject to mandatory redemption if the Trustee has drawn moneys under the Principal Letter of Credit upon receipt of a Notice of Termination (as defined in the Letter of Credit Agreement) at the lesser of 103°; of the outstanding principal amount thereof, or, if applicable, the redemption price hereinafter set forth for optional redemption of the Project Bonds, plus accrued interest to the redemption date,.at the earliest practicable date selected by the Trustee, after consultation with the Company and the Bank but in any event not later than 180 days following the Notice of Termination. Unless previously redeemed, the Project Bonds maturing on or after December 15, 1988 are also subject to redemption by and at the option of the Issuer, at the direction of the Company, prior to stated maturity in whole or in part on any Interest Payment Date, on or after BR-9